The Invoice Discounting product will be available to Clear’s existing 3,000-plus enterprise customers to provide working capital solutions to their suppliers and help grow their businesses.
Clear, which provides a suite of SaaS compliance products for enterprises and SMEs, has seen its business network evolve with GST, e-waybills, and e-invoicing. The platform already processes 200 million business invoices with a gross value of USD 400 billion.
Clear’s Invoice Discounting product has been designed to deliver instant working capital and liquidity to suppliers and is expected to process USD 3 billion by the end of 2024.
The smart AI/ML-based platform will connect to ERPs and enable a discount rate selection that is acceptable to both customers and their suppliers. The enterprises can choose from a range of financing options to fund their early payments.
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